Can you imagine the consequence if your family ran your household budget like the government does? It is even more panic-stricken with the debate surrounding the debt ceiling.
To put this in terms of a family debate consider the husband coming home from Home Depot, “Honey, we are about $50 away from maxing out all credit cards, and the interest hasn’t posted yet for this month.”
“Oh! Well, I think I can postpone the doctor’s appointment this month until we can figure it out,” the wife replays.
“That would be great, so we have until August 2nd to figure it out,” the husband say’s with a smile.
The common sense approach would think that the husband and wife would sit down at the table and work on ideas where they could cut their spending, add a little income, maybe a job or two, and come to a compromise on the family’s budget. Their personal finance is very important as they do need to plan for retirement, maybe save some money for junior’s college, and save for emergencies.
Instead, this is how the rest of the story goes.
“Honey, I just wanted to let you know that the boys and I are heading to Hilton Head for the week,” the husband says proudly.
“No problem, me and the girls are going to Mall of America to do some shopping,” she says. “I will arrange for junior to go to summer camp in Colorado, maybe Aunt Lisa will pick him up at the airport.”
And off they go, completely disregarding their agreement to determine a budget fix on August 2nd.
How would this play out? It could end in foreclosure, bankruptcy and potentially losing credit lines which would destroy this family even more.
As I have grown older, I have learned that I am proud of my country, but embarrassed by my government. The fact that we can’t agree on a way to spend the trillions of dollars coming through their hands is ridiculous.
Dear Lawmakers—I pray for you, your family, and our country. Please resolve this issue and come to agreement on how to move forward financially.
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